THE EQUITY PREMIUM PUZZLE AND EMOTIONAL ASSET PRICING

Article, Research, Preprint OPEN
MARC GÜRTLER; NORA HARTMANN;
(2007)
  • Publisher: Braunschweig: Technische Universität Braunschweig, Institut für Finanzwirtschaft
  • Journal: International Journal of Theoretical and Applied Finance,volume 10,issue 6,pages939-965
  • Subject: Wirtschaftspolitik | Wirtschaft | G35 | Behavioral Finance,Equity Premium Puzzle,CCAPM,Dividend Smoothing | Eigenkapital | G12 | equity | research | Aktienmarkt | Forschung | Bundesrepublik Deutschland | Behavioral finance, equity premium puzzle, CCAPM, dividend smoothing | CCAPM | Equity Premium Puzzle | Behavioral Finance | empirische Forschung | Börse | stock market | empirical research | economy | Federal Republic of Germany | Economics | 10900 | Economic Policy | Dividend Smoothing | stock exchange
    • ddc: ddc:330
      jel: jel:G35 | jel:G12

"Since the equity premium as well as the risk-free rate puzzle question the concepts central to financial and economic modeling, we apply behavioral decision theory to asset pricing in view of solving these puzzles. U.S. stock market data for the period 1960-2003 and Ge... View more
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